Solana Price Surge Expected With Spot ETF Approval

Solana (SOL), a major cryptocurrency, is anticipated to experience a significant price surge if its spot ETF receives approval, according to popular crypto analyst Alek Carter. Currently, the 6th-largest cryptocurrency by market capitalization is trading within a narrow range, but analysts are optimistic about the highly anticipated SOL ETF, which is expected to bring substantial inflows to the digital currency.

Solana recently saw a boost with the launch of its first staking ETF, which resulted in tens of millions of dollars in inflows. However, this is not sufficient on its own. While a staking ETF is a valuable financial instrument, the true measure of a digital commodity’s growth is reflected in its spot ETF, which is still pending before the US Securities and Exchange Commission (SEC).

According to Alek Carter, Solana has been testing the patience of traders for some time. However, the chances of a price breakout will dramatically increase once the spot SOL ETF is approved. He tweeted, “$SOL is just taking test of our patience. For now, it is in consolidation phase and close candle above $184, then get ready to open your longs. Solana may start to run with these ETF inflows. Sol range is clear in front of us we just have to wait to break it. Meanwhile, solana DApps did $562M+ in Q2 alone, more than Ethereum & Base combined. I am watching closely $sol now WBU?”

Solana has had a challenging 2024-2025 bull market. Despite being one of the most advanced decentralized networks, often outperforming Ethereum in on-chain activity and utility, it has struggled to translate this performance into robust market activity. The coin is currently struggling to break below $200, but a major catalyst, such as the spot ETF, could significantly change its trajectory. The next few months will be crucial for Solana, as smaller programmable networks like Solana, Sui, and Tron could challenge Ethereum's dominance and the status quo.

Alek Carter's prediction that Solana could reach $300 if its spot ETF is approved highlights the potential impact of regulatory approval on the cryptocurrency market. The approval of a spot ETF for Solana would provide investors with a more accessible and regulated way to gain exposure to SOL, potentially leading to increased demand and a rise in price. This development would also demonstrate the growing acceptance of digital assets by regulatory bodies, paving the way for further innovation and growth in the cryptocurrency space. As the market continues to evolve, staying informed and adapting to changing conditions will be crucial for investors looking to maximize their returns.